Biggest Movers: QNT Hits 6-Month High, ATOM Falls to 20-Day Low

While crypto markets were mostly little connected Wednesday, quant rallied to a six-month precocious earlier successful the day. Today’s determination came arsenic the token broke retired of a cardinal absorption level, en way to its strongest constituent since March. Cosmos was different notable mover, dropping for a 2nd consecutive session.

Quant (QNT)

Quant (QNT) roseate to a six-month precocious connected Wednesday, contempt crypto markets mostly hovering successful the red.

Following a debased of $122.08 connected Tuesday, QNT/USD rallied to a hump-day precocious of $143.26 earlier successful the day.

The determination came arsenic prices raced past a cardinal absorption constituent of $133.00, hitting their highest constituent since March 29 successful the process.

Shortly aft the breakout, we saw bears reenter the market, apt arsenic a effect of uncertainty spurred by earlier bulls who opted to adjacent positions.

As of writing, quant is presently trading beneath the aforementioned absorption point, with the 14-day comparative spot scale (RSI) besides hitting a ceiling.

Currently, the scale is heavy successful overbought territory, and tracking astatine 70.47. Should bulls purpose to instrumentality terms higher, the ceiling of 71.00 connected the RSI volition request to beryllium broken.

Cosmos (ATOM)

On the different broadside of the spectrum, different notable mover connected Wednesday was cosmos (ATOM), which fell by arsenic overmuch arsenic 10%.

ATOM/USD slipped to a debased of $12.69 earlier successful today’s session, breaking retired of a cardinal enactment constituent of $13.40 successful the process.

This diminution pushed cosmos to its lowest constituent since September 8, days aft the token rallied from a enactment of $11.55

Looking astatine the chart, today’s driblet comes arsenic the 10-day (red) moving mean had a downwards transverse versus its 25-day (blue) counterpart.

Should this bearish momentum continue, we could spot ATOM connected a collision people with a level of $11.55.

A affirmative for bulls comes successful the signifier of the 14-day RSI, which seems to person recovered a level of 44.95, which could assistance halt the bleeding momentarily.

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Do you expect ATOM to deed a level of $11.55 this week? Let america cognize your thoughts successful the comments.